Titan America SA $TTAM Shares Bought by Diamond Hill Capital Management Inc.

Key Points

• Diamond Hill Capital Management increased its stake in Titan America by 46% in the fourth quarter, buying 92,633 additional shares and lifting its holding to 293,928 shares worth about $4.84 million.
• Titan America reported Q1 earnings of $0.18 per share, missing estimates of $0.20, though revenue rose 1.5% year over year to $398.42 million. Analysts currently expect full-year EPS of 1.09.
• The company declared a quarterly dividend of $0.04 per share payable July 7, while analysts remain mixed on the stock with a consensus Hold rating and average price target of $17.42.

Diamond Hill Capital Management Inc. boosted its stake in shares of Titan America SA (NYSE:TTAM - Free Report) by 46.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 293,928 shares of the company's stock after buying an additional 92,633 shares during the quarter. Diamond Hill Capital Management Inc. owned 0.16% of Titan America worth $4,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Voss Capital LP lifted its holdings in shares of Titan America by 13.3% in the third quarter. Voss Capital LP now owns 1,715,000 shares of the company's stock valued at $25,622,000 after purchasing an additional 201,577 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Titan America during the first quarter valued at approximately $9,188,000. Venator Management LLC lifted its stake in shares of Titan America by 52.6% during the third quarter. Venator Management LLC now owns 458,650 shares of the company's stock valued at $6,852,000 after buying an additional 158,050 shares during the period. Invesco Ltd. purchased a new position in shares of Titan America during the second quarter valued at approximately $5,346,000. Finally, First Eagle Investment Management LLC lifted its stake in shares of Titan America by 8.0% during the fourth quarter. First Eagle Investment Management LLC now owns 384,072 shares of the company's stock valued at $6,330,000 after buying an additional 28,462 shares during the period.

Titan America Stock Performance

NYSE:TTAM opened at $15.14 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.99 and a debt-to-equity ratio of 0.41. The company has a market cap of $2.79 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.98 and a beta of 1.24. Titan America SA has a fifty-two week low of $12.18 and a fifty-two week high of $19.42. The firm's 50 day moving average is $15.76 and its two-hundred day moving average is $16.50.

Titan America (NYSE:TTAM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The company had revenue of $398.42 million for the quarter. Titan America had a return on equity of 18.35% and a net margin of 11.08%.The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. Analysts expect that Titan America SA will post 1.09 EPS for the current year.

Titan America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.16 dividend on an annualized basis and a yield of 1.1%. Titan America's dividend payout ratio (DPR) is currently 15.84%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Zacks Research downgraded shares of Titan America from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 22nd. Wall Street Zen downgraded shares of Titan America from a "buy" rating to a "hold" rating in a research note on Monday, April 13th. HSBC downgraded shares of Titan America from a "buy" rating to a "hold" rating and set a $18.50 price objective on the stock. in a research note on Thursday, May 7th. Finally, Citigroup upped their price objective on shares of Titan America from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $17.42.

Insiders Place Their Bets

In related news, CFO Lawrence Hugh Jr. Wilt purchased 20,000 shares of the business's stock in a transaction on Thursday, March 19th. The shares were bought at an average price of $14.93 per share, with a total value of $298,600.00. Following the completion of the purchase, the chief financial officer directly owned 20,000 shares in the company, valued at approximately $298,600. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

About Titan America

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).

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